Report: To Protect a Client and Itself, CVS to Buy Aetna

This May 15, 2017, file photo, shows a CVS pharmacy sign at a store in Hialeah, Fla. CVS will buy insurance giant Aetna in a roughly $69 billion deal that will help the drugstore chain provide more health... (AP Photo/Alan Diaz, File)

(Newser)
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CVS will buy insurance giant Aetna in a roughly $69 billion deal that will protect a key client—and possibly protect itself from Amazon—a person with knowledge of the matter said Sunday. CVS will pay about $207 in cash and stock for each share of Aetna, according to the person, who spoke on condition of anonymity because the deal has not been announced publicly. That represents a 29% premium to the price of Aetna shares on Oct. 25, the day before the Wall Street Journal first reported about the possibility of a deal. The mammoth acquisition pairs a company that runs more than 9,700 drugstores and 1,100 walk-in clinics with an insurer covering around 22 million people. CVS is also one of the nation's biggest pharmacy benefit managers, processing more than a billion prescriptions a year for insurance companies, including Aetna. How CVS could benefit:

lol CVS is not a pharmacy, they are practically a grocery store! The CVS in New Orleans on Canal street was selling vegetables for goodness sake! Who the frag buys lettuce from a pharmacy?! They had 2 full shelves (entire aisle, just for booze!).. Jack of all trades and masters of none.

Boz O'Clown

Dec 4, 2017 7:31 AM CST

Health provider, pharmacy and health insurance all under one roof. That doesn't sound good. You know... absolute power corrupts... absolutely.

doug bishop

Dec 3, 2017 11:54 PM CST

until you remove capitalism from the equation heathcare will continue to spiral out ov control,yes it's that simple.. ...